Good morning and welcome to your Morning Briefing for Tuesday 4 November 2025. To get this in your inbox every morning click here.
Tax hike fears drive clients to ISAs and pensions
Tax rises are “inevitable”, a leading think tank has warned, just hours before chancellor Rachel Reeves is set to pave the way for a tough 26 November Budget.
This stark warning confirms the very fears that are already compelling investors to take pre-emptive, and potentially “dangerous”, financial action, according to new research from Hargreaves Lansdown.
In a pre-Budget address today, the chancellor will pledge to make “important choices” as she sets out her three priorities for the fiscal event: cutting hospital waiting lists, the national debt and the cost of living.
Steven Levin: Breaking the psychological barriers to investment
Britain doesn’t just have an advice gap – it has a confidence gap, says Steven Levin, CEO of Quilter.
While much has been written about the structural and economic barriers to financial planning, less attention is paid to the psychological ones.
Yet these are often the most insidious, quietly preventing millions from taking positive action with their money. Cash is being left in current accounts and low-yielding savings accounts in favour of investments as a result.
Dynamic Planner secures ‘industry first’ AI certification
Digital advice platform Dynamic Planner has become the first in its sector to achieve the ISO/IEC 42001:2023 AI Management Systems certification, signalling a significant move to formalise its AI governance.
The firm stated the certification aligns with its strategic focus on maximising the “transformational power of AI and data” at what it calls a “watershed moment” for the investment and financial planning industry.
Quote Of The Day
OpenAI continues to be the fairy godmother for tech companies worrying about how to monetise their large-scale investments, bestowing its largesse on Amazon this time
– Chris Beauchamp, chief market analyst at IG, commenting on the new deal between OpenAI and Amazon
Stat Attack
Recent research reveals a significant difference in investment appetite and behaviour between Londoners and the UK average.
The findings indicate that residents of the capital are markedly more likely to invest, and to have invested in the past year, driven by a desire for higher returns than those offered by traditional cash savings.
Furthermore, Londoners express a strong demand for more control and personalisation over their investments. The stats show:
69%
of Londoners are planning on investing in the next 12 months.
43%
is the UK average for people planning to invest in the next 12 months.
49%
of all Londoners invested in the last 12 months.
32%
of people across the whole of the UK invested in the last 12 months.
57%
of Londoners believe cash savings are as risky as investments.
85%
of investors in London are calling for more control over their investments, noted as the highest proportion in the UK.
84%
of investors in London say personalisation is essential to them when investing.
46%
of London investors do not think the current investment options available offer the level of personalisation they need.
Source: Stratiphy
In Other News
Employee-owned wealth manager Bentley Reid has opened a new office in the Dubai International Financial Centre (DIFC).
The new entity, Bentley Reid (DIFC) Limited, has secured a Category 4 licence from the Dubai Financial Services Authority (DFSA), enabling it to arrange and advise on its wealth management services.
CEO Peter Clark has relocated from the UK to Dubai to spearhead the new operation, which is based in the DIFC’s new Funds Centre.
Clark called the Middle East a “natural next step”, citing the firm’s 40-year experience with high-net-worth expat clients. He added that the firm’s “discreet and highly personalised” approach will appeal to the “fast-growing market”.
The launch aims to capture Dubai’s growing wealth concentration, with the UAE projected to attract nearly 9,800 new millionaires in 2025.
Financial services consultancy Broadstone has appointed insurance veteran Karen Graves to its Board as a non-executive director, effective from 1 November 2025.
Graves brings over 30 years of experience in the Lloyd’s and London market, having served as COO and managing director at a Lloyd’s Managing Agency.
She currently holds several NED roles, including chair of GreenKite and positions at Allied World Managing Agency and Accelerant UK.
The appointment follows that of Bill Pedersen in May and supports Broadstone’s strategic focus on growing within the UK insurance market, backed by a recent investment from Lovell Minnick Partners.
Reeves preparing to break manifesto pledge at Budget (The Telegraph)
Tax rises and drop in investment predicted to limit UK growth (The Guardian)
ChatGPT owner OpenAI signs $38bn cloud computing deal with Amazon (BBC News)
Did You See?
Adviser confidence remains buoyant in 2025, despite persistent vulnerabilities created by factors outside of firms’ control and the rise of AI.
That’s what our annual deep dive into the driving forces shaping the advice profession in 2025 revealed, writes Heather Hopkins, managing director and founder of NextWealth.
In the NextWealth Financial Advice Business Benchmarks report, which plays back insights from 260 financial advice professionals on the five key areas that influence how their businesses deliver and how they develop, the profession scores confidence in its people and capacity 4.2 out of 5.
This is outranked only by firms’ confidence in how they are servicing, retaining and attracting clients, which scores 4.3 out of 5.
The much-feared tech effect – the decimation of people-filled roles – has not materialised with the introduction of AI-assisted solutions. The much-heralded efficiency gains of AI, on the other hand, are starting to.
